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New Travel Report Reveals Increased Spending by International Visitors During Summer 2014

2014 Summer Travel Snapshot from TIAC and Visa shows US visitors are top spenders with visitors from China ranking second; Top spending categories include retail and lodging with full-service restaurant spending up 9.4%

OTTAWA, ON, December 17, 2014 - Canada's tourism industry experienced a 4.9% growth in spending by international Visa cardholders, according to the 2014 Summer Travel Snapshot released by Visa Canada and the Tourism Industry Association of Canada (TIAC). In addition, general retail purchases captured the largest share of tourism spending on Visa accounts with international travellers spending a combined $878M, an 8.9% increase over 2013.

"Visa's global network connects thousands of financial institutions, tens of millions of merchants and billions of cardholders every day providing a unique opportunity to share spending trends and preferences over time. We are pleased to partner with TIAC to utilize this data in the first semi-annual Travel Snapshot and to support tourism growth in Canada," stated Robert Livingston, President, Visa Canada.

"The Travel Snapshot report gives the tourism industry great insight into where and how much Visa cardholders are spending in Canada. This data is vital as we work to better understand our customers and strengthen Canada's competitiveness as a top global destination," added TIAC interim CEO Rob Taylor.

Tourism is an $84 billion industry that directly employs over 600 000 Canadians in every region of the country. In 2013, 79% of tourism revenue came from domestic travellers. However, with international visitors spending on average 3 times more than their domestic counterparts, TIAC is looking to boost international travel by 5% to match global growth rates and capitalize on this booming industry.